Stock market value of time warner/aol stock

Author: Sheens Date: 15.07.2017

NEW YORK Media conglomerate Time Warner Inc said on Monday it will spin off its AOL unit to shareholders on December 9, nine tumultuous years after one of the most disastrous corporate mergers in history. Time Warner shareholders of record on November 27 will receive an AOL stock dividend for every 11 shares of Time Warner common stock they hold.

The combination was meant to herald the future of content distribution via the Internet, but the promised benefits were never achieved and Time Warner executives gradually regained control of the business.

Time Warner, which owns media brands such as CNN, HBO and Warner Bros, said back in May it planned to spin off AOL as it focuses on being a content company.

Last year, it spun off its cable distribution unit, Time Warner Cable Inc.

stock market value of time warner/aol stock

In March, Time Warner appointed former Google Inc sales executive Tim Armstrong chief executive of AOL to prepare the company for life as an independent business.

Armstrong will spend most of the next few weeks on a road show speaking with Time Warner shareholders and Wall Street analysts about the prospects for AOL in Web advertising, online content and communications, where he sees the company's future.

Armstrong has been cutting staff and restructuring the company ahead of the spin. AOL common stock will begin trading on a 'when-issued' basis on the New York stock Exchange on November 24 and will start trading under the 'AOL' symbol on December Time Warner said fractional shares of AOL will not be distributed to stockholders.

AOL Shares Drop After Time Warner Spin Off

Instead, they will be aggregated and sold in the open market, with the net proceeds distributed pro rate in the form of cash payments to Time Warner holders who would otherwise have been entitled to fractional shares. The AOL spin-off has been structured so shareholders will receive the AOL stock as a tax-free dividend, but cash received in lieu of fractional shares will be taxable.

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stock market value of time warner/aol stock

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stock market value of time warner/aol stock

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